Drilling Intersects 92.6 Metres (M) Of 0.95 G/T Gold

Exploration further expands gold mineralization at Juby Gold Project on Golden Lake Deposit

TORONTO, March 30, 2026 (GLOBE NEWSWIRE) -- McFarlane Lake Mining Limited (“ McFarlane” or the“ Company”) (CSE: MLM, OTC: MLMLF, FRA: W2Z) is pleased to announce further results from its diamond drilling exploration campaign being conducted on its 100%-owned Juby Gold Project, located west of Gowganda, Ontario, within the southern part of the“ Abitibi Greenstone Belt”. Drilling was initiated in December 2025 on the property and commenced at the Company's 826 Zone and has now moved to the Golden Lake Zone, see Figure 1.

Highlights

• Drill hole GL 76-72 at Golden Lake has intersepted 0.95 g/t gold over 92.6m, this includes 23.9m of 1.72 g/t gold and 7.15m of 3.46 g/t gold. See Figure 2 and Tables 1 and 2.
• Similar to the previously announced drill hole GL 76-71 (95.4m of 1.36 g/t gold March 2, 2026) this new gold intercept at GL 76-72 further expands the gold mineralization at the Golden Lake deposit bringing in mineralization which was outside the last mineral resource estimate (effective date September 29, 2025, see note below), see Figure 2.
• Drilling has also intercepted mineralization as logged on holes GL 76-73A and GL 76-74. Both holes are approximately 100m apart from each other and along strike from GL 76-71 and GL 76-72. Hole 76-73A has logged over 100m of continuous mineralization. Drill core in both holes (73A & 74) are being prepared for lab sampling.
• There has been approximately 5,000m drilled thus far on the Juby Gold Project from an original plan of 13,000m.
• As a result of the significant intercept at GL 76-71 (95.4m of 1.36 g/t announced March 2, 2026), a new hole, GL 76-76, is now being drilled at a 100m step back to GL 76-71. This is to test the extension of the mineralization in a southwest trend in an effort to test the width of the mineralized zone.
  “Not only does today's announcement help support expanded gold mineralization at Juby, what we are seeing in further drilling along strike (Drill hole GL 76-73A and 76-74) is extremely encouraging. Drilling at our Golden Lake deposit is surpassing expectations. Our team is excited to be developing what is evolving into a world-class deposit”, said Mark Trevisiol, CEO and Chairman of McFarlane.

A second diamond drill arrived at site on March 9, 2026 and recently completed hole GL 76-74 and has now moved on to drill GL 76-75. Originally, 14 diamond drill holes were planned; with the feedback received from the drilling to date, McFarlane will increase drilling at Golden Lake by at least 1,000 to 1,500m. One of the two diamond drills will transfer to the Juby deposit within the next 4 to 6 weeks, where approximately 4,000 to 5,000 meters are planned. See Figure 3 for the exploration plan at Juby.

Drilling being conducted at site is contracted through two separate firms, each having a business partnership with 2 of the 3 First Nation communities that have territorial rights on the property. There are three First Nation communities recognized as having territorial rights within the Juby Gold project, they include Matachewan First Nation, Temagami First Nation and Atikameksheng Anishnawbek First Nation.

Figure 1 – Juby Gold Project - Plan View of Exploration Drilling program showing location of drill holes at Golden Lake, Juby and 826 Zones

Figure 2 – Golden Lake Deposit Intersection - section looking northwest

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